This is a friendly note, just to say, don't sell too early. I don't want you sitting at the dinner table at christmas, with a frown on your face.
Purely from what this chart is saying; forget about all the positive fundamentals going on in the background.
(1) We had an impulse move from the lows down @ ~40p, up back inside the previous range and on to 130p....
Something tells me this is your last chance to get on the AVACTA train.
Fundamentals
- We are awaiting the results of phase 1 trials, and all things are pointing for it to be very positive.
- A great pipeline of drug development
- Possible Take-over bids incoming
- With a little research, the list goes on and on to be honest for Avacta.
Charts
- Higher time...
I know I bang on about Avacta a lot. But think we have a good trade setup here
- Bollinger bands pinching
- Accumulation/build up, approaching the top of a channel (bull flag Htf)
- Strong excitement/sentiment amongst investors
- Wider markets performing/recovering well.
- Higher lows on 1 day tf
- OBV creeping up, whilst price steps down (1 day)
* Stops would...
Would you back a horse at 10 to 1. My risk to reward ratio here.
But what if I told you. The horse should be priced in at 5/1 or even 3/1. And that the horse had a great pedigree behind it. Would you take it.
Take your £10 not to the bookies this weekend, and go and get in on this race because its going to go off soon enough!
Friday was a good day for avacta and it cemented that build up of the handle part of the cup and handle.
No we are looking for a solid breakout come Monday. Here I have detailed 3x approaches you could take, to take this trade.
Each with their advantages and disadvantages.
Thoughts welcome.
Bon chance!!
Heres a little update on AVACTA. Falling descending wedges breaking out, and then the formation of a mini bull flag. Might see a pop to 121 today but maybe even further.
Good luck everyone!
What AVACTA is looking like. Im hoping for a move to the neckline of that inverse head and shoulders, some consolidation here and then a break through with a fair target of 140p.
Waiting for monday open.
Simply staring at this chart and waiting for LSE open monday morning. Thank god its not a bank holiday otherwise the wait would be longer hah
AVACTA forming a nice inverse head and shoulders pattern on the 1hour.
Formed during the correction. We have made a lower high and the candle patterns are giving us confirmation. Also confluence of the fib level.
Looks promising.
Avacta has had a rally up. It has formed a falling wedge / bull flag which could serve as a continuation pattern.
First target could reasonably be the top or start of the falling wedge ~141p.
Targets after that we are looking at the fib retracement of the previous macro down trend and/or the previous price action (there is some confluence between the two).
Ive cancelled my buy orders sitting on old support and @ the 0.618 line of this recent leg up to give the liquidity to simply enter here. It is a trade I would rather be in than not at all, so for the sake of the difference, Im going for a punt here. A sort of bullish divergence on the 1hour chart, but not strictly lower low on price action, but squint hard enough...
Heres my update on AVACTA
Thinking that the run could just continue, and it might. But I always feel that when I am most bullish as a result of a long run up and its time for a bit of down (for now).
Bearish divergences on 1 to 6 hour time frames.
Seem to be forming this rising wedge, that looks like it could break to the downside.
We are at historical price...
Just really wanted to post this chart. Just because I love how the middle three Fibonacci bands are aligned with historical price action.
Just love it.
AVACTA is one to watch.
